PBoC gains two-headed leadership

President Xi Jinping appears to be strengthening party control over the central bank

The People’s Bank of China
The People’s Bank of China now has joint leadership

Guo Shuqing, a high-profile liberal reformer and banking regulator, has been named deputy governor and Communist party secretary of the People’s Bank of China, a move that places him politically above Yi Gang, who took the helm as PBoC governor less than 10 days ago.

Yi was named deputy party secretary during an internal meeting on Monday (March 26), according to an announcement on the central bank website.

The appointment means that Yi will be assisted by Guo in daily central bank operations

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